Polyus announces consent solicitation results for trustee swap

By William Gullotti

Buffalo, N.Y., July 15 – Polyus Finance plc gave the results for the consent solicitation to approve a replacement trustee, according to an announcement on Friday.

As previously reported on July 1, the current trustee for three series of the issuer’s notes notified the issuer on May 9 that it is unable to continue acting as trustee due to restrictions and sanctions on certain Russian companies and individuals, sovereign debt restrictions and other sanctions.

As of the July 14 expiration, Polyus received consents from holders of:

• 76% of the $330,007,000 outstanding 5¼% guaranteed notes due 2023 (ISINs: XS1533922933, US73180YAC84);

• 77% of the $322,604,000 outstanding 4.7% guaranteed notes due 2024 (ISINs: XS1713474325, US73181LAA98); and

• 65% of the $700 million outstanding of 3¼% guaranteed notes due 2028 (ISINs: XS2396900685, US73181LAB71).

Consequently, i2 Capital Trust Corp., Ltd. will act as the new trustee for the 2023 and 2024 notes.

According to the announcement, the company intends to proceed with a new consent solicitation for the 2028 notes as the series did not receive the requisite minimum of 75%.

The information and tabulation agent is i2 Capital Markets Ltd. (+44 203 633 1212, info@i2capmark.com, https://i2capmark.com/event-details/ 59/Holder/polyus-finance-plc).

Questions can also be directed to the investor relations department of the company of PJSC Polyus (+7 495 641 33 77, ir@polyus.com).

London-based Polyus is a gold producer with mines in Russia and Kazakhstan.

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